In the digital age, the way we perceive wealth is no longer tied solely to concrete facts such as income, investments or property. Today, social networks have created a new economy of appearance, where an individual's worth is often measured by the image they promote on Instagram, TikTok or YouTube. This phenomenon, otherwise known as the "influencer economy", has fundamentally changed the way the younger generation views economic success and personal well-being...
There are a variety of perspectives on how social media impacts our society, both positively and negatively.
After all, some people spend hours every day on these platforms, so we need to be aware of their impact. The impacts have already affected our spending, saving, and investing habits.
Social media often portrays a curated and exaggerated version of reality. People rarely post about their children's behavior problems at school or the stress of caring for aging parents.
They post about luxury vacations, great seats at sports games, and expensive nights out. This creates a distorted sense of what is “normal” and can lead to unconscious pressure to keep up.
Let's take an example: you follow friends or influencers who travel the world, stay in the best hotels, and eat at fancy restaurants. Perhaps, without realizing it, this affects how you feel about the “normal” beach vacation you take, even though you've enjoyed it for years.
Or maybe during the holidays you see posts of friends spending time at their beach houses. You might start to think that having a second home is more common and necessary than it actually is.
Sociologist Marsida Simo recalls that social networks emphasize the most beautiful moments of someone's life and not their daily reality.
"Since we are constantly exposed to various social networks, we have created a perfect reality, where people show only the most beautiful moments, luxurious expenses and the most impressive achievements. This effect is not just a momentary sensation, but deeply affects human psychology," – says sociology, emphasizing that the influence of social networks on the way we view money, spending, and investments is undeniable.
"All this creates a sense of crude comparison, leading the individual to dissatisfaction, inadequacy and perversion. Money and wealth, beyond their practical function, are transformed into a social standard. What we see in others in the virtual world always seems bigger, more beautiful and more attainable than what we have", – continues Ms. Simo.
She focuses on young people, highlighting that this effect is particularly powerful.
"They are in the phase of identity formation and social comparison can affect not only self-esteem, but also financial decisions, increasing the chances of impulsive spending. All this to stay at the level they have formed as an image from the famous people they follow," – emphasizes Ms. Simo.
Sociology calls for early financial education to be made a necessity – helping young people understand the difference between wants and needs, manage a budget, and plan smart investments.
"Knowledge about saving, planning, and investing is just as important as knowledge about technology and the use of social media. This knowledge will serve as a filter, making them more careful in their financial decisions, acting ethically, avoiding fraud, and reducing irreversible risks.", – concludes Ms. Simo.
One of the phenomena that is increasingly being observed is "money dysmorphia", where individuals feel financially insecure even in conditions when they are actually stable.
"This happens because the comparison is no longer made with the natural economic environment in which the individual lives, but with global standards of luxury, which circulate with great intensity on social networks. As a result, a feeling of relative deprivation is created that is not a product of reality, but of curated images that encourage pressure to consume beyond possibilities," – says economic expert Selami Xhepa to "Monitor".
Social networks are increasingly influencing the financial behavior of families.
The expert says that impulsive spending, loans taken out to cover unproductive expenses, or hasty investments in products promoted online are just some of the emerging risks.
"In a small economy like Albania's, this behavior can create unnecessary financial tensions among individuals and families and distort their economic priorities. From a public policy and financial education perspective, the main challenge is to build an economic culture where individuals understand that wealth is not measured by image, but by stability, savings and long-term investment. It is important that users cultivate a critical approach to the content they consume and build personal financial objectives based on their reality, not on models created on digital platforms," – says Mr. Pocket.
comparison
In the age of social media, every user has the ability to create and share content, which makes comparisons between people more frequent and inevitable.
On platforms like Instagram, TikTok, or LinkedIn, most people present the best version of themselves: curated photos, beautiful looks, ideal bodies, luxury, and lifestyles that often don't match everyday reality.
This selected and filtered presentation causes users to compare themselves more often “upwards,” with people who appear more successful, more beautiful, or richer. An increasingly common form of this phenomenon is the distribution of symbols of wealth: villas, luxury cars, exotic vacations, expensive brands.
When someone is constantly exposed to these images, they develop the feeling that others are richer and more privileged. This type of comparison often leads to dissatisfaction, lower self-esteem, and a sense that their personal lives are less valuable.
Digital marketing expert Cansel Saygin says that today comparison is no longer made with classmates or work colleagues, but with people from every corner of the world.
“When this happens every day, a distorted perception is created, people start to think they are financially weak, even when they are not. They feel the need to have material things that are not necessarily necessary. They often feel economically insecure, not because of their reality, but because of the reality they see online. Over time, what appears on social media begins to be perceived as the ‘standard’ of living, even though it is only a filtered version of reality.”, – says Ms. Saygin.
This process can cause what is called relative deprivation, a sense of injustice and disappointment that arises when we perceive that others have more than we do, even though we have actually lost nothing.
The feeling of relative deprivation can be further increased when the people we compare ourselves to seem similar to us in age, lifestyle, or interests.
This makes the economic contrast seem even more stark. The consequences of this deprivation are not limited to personal well-being. Studies show that people who feel deprived become less satisfied with their lives, more stressed, and more prone to aggressive behavior.
Another important effect is the increase in hostility towards the wealthy. When someone constantly sees images that remind them of economic differences, the idea is created that “the wealthy” are the cause of the injustice experienced.
This can lead to negative attitudes, cold stereotypes and in some cases, aggressive behavior towards them, especially in online environments.Monitor.al
Source of information @Telegrafi: Read more at:the world today www.botasot.al
